Smes and economic growth

The Vietnam Chamber of Commerce and Industry (VCCI) and its Kawasaki counterpart from Japan (KCCI) inked a Memorandum of Understanding (MoU) on June 25 to boost trade, business and investment between small- and medium-sized enterprises (SMEs). At the signing ceremony, the two sides agreed to promote cooperation in trade, investment, engineering and tourism between Vietnam and Kawasaki to stimulate economic growth. They also will continue exchanging information and providing business opportunities for enterprises. VCCI President Vu Tien Loc expressed his hope for robust collaboration between Vietnam and Japan. The VCCI plans to work with the Ministry of Investment and Planning in several trade promotion projects in Vietnam’s key markets overseas, including Japan, and looks forward to Japan’s support, he said. In addition, Vietnam called for more Japanese investment in information technology, agriculture, industry and other hi-tech sectors. The KCCI President hoped for … [Read more...] about Vietnam, Japan ink MoU to boost economic growth

SMEs Optimistic about Vietnam Economic Growth Prospects - HSBC Vietnamese small and medium enterprises are listed among 3,000 SMEs in ten Asia-Pacific countries with optimism about the country&amprsquos economic growth prospects this year, Hong Kong &amp Shanghai Banking Corp (HSBC) said in its report released July 16. &nbsp Up to 67 per cent of 300 SMEs in Vietnam said they strongly believed in the current economic growth rate or at higher pace, HSBC&amprsquos report noted. &nbsp As many as 54 per cent of the 300 Vietnamese SMEs said they will expand their investment and 41 per cent of them said they will keep investment plans unchanged from now till the of the year, the report added. &nbsp After surveying SMEs in Hong Kong, China, Taiwan, Bangledesh, Singapore, India, Vietnam, South Korea, Malaysia and Indonesia, HSBC said SMEs in India are most-optimistic, followed by China and Taiwan and the other extreme are South Korean SMEs due to political and social … [Read more...] about SMEs Optimistic about Vietnam Economic Growth Prospects – HSBC

While Vietnam’s economic performance continues to improve, further structural reforms that allow greater participation of local firms in global value chains is needed to enable the economy to reach its full growth potential, the Asian Development Bank (ADB) said in a report released on Tuesday (March 24). Asian Development Outlook 2015 forecasts Vietnam’s gross domestic product (GDP) growth to edge up to 6.1 percent in 2015 and 6.2 percent in 2016, assuming the Government maintains expansionary monetary and fiscal policies and continues to accelerate structural reforms. Annual inflation is projected at 2.5 percent in 2015, quickening to 4.0 percent in 2016 as domestic demand and global oil prices pick up. “Better economic performance in the major industrial economies -- particularly the US, Vietnam’s biggest export market -- will help to spur export growth, although this positive effect will be partly offset by slowing growth in the PRC (Mainland … [Read more...] about Private sector crucial to unlocking Vietnam’s economic growth potential – ADB

Vietnam- Italy Strategic Partnership: Providing Basis for Closer Political and Economic Ties Vietnam and Italy officially established diplomatic relations on March 23, 1973. Since then the two countries have witnessed remarkable progress in many cooperation areas namely politics, national defense, trade, investment, education, culture and so on. On the occasion the two countries celebrating the 40th anniversary of diplomatic relations, the Vietnam Business Forum interviewed Mr Lorenzo Angeloni, Italian Ambassador to Vietnam. Anh Son reports. For the past 40 years, the bilateral partnership between Vietnam and Italia has been substaintially developed in a variety of sectors. Would you please tell us something about this issue? Italy and Vietnam have always enjoyed a deep friendship and the bilateral relations have traditionally been excellent. Our two countries are now experiencing in the last years a tremendous growth that has touched all the sectors of collaboration. On the … [Read more...] about Vietnam- Italy Strategic Partnership: Providing Basis for Closer Political and Economic Ties

Tra Vinh SME Project- Platform for Socio-economic Growth Recently, Tra Vinh province held a ceremony to launch the Small and Medium Enterprises (SMEs) Development Project in Tra Vinh period 2014-2020. In the context of Tra Vinh SMEs facing many difficulties and challenges (access to markets, land and finance; limited business development services; infrastructure not in sync and difficult transportation), the implementation of the SME project becomes more meaningful. It is expected to have a significant contribution to socio-economic growth and local stability. To learn more about this project, Vietnam Business Forum interviewed Mr Nguyen Thanh Tam, Vice Chairman of Tra Vinh People’s Committee. Truong Minh reports Could you briefly introduce the SME project? The SME project is funded by the Ministry of Foreign Affairs, Trade and Development of Canada for six years, from 2014 to 2020 in 20 communes of 8 districts in the province. The total funding of the project is CAD 12.1 … [Read more...] about Tra Vinh SME Project- Platform for Socio-economic Growth